In Charts: New age tech stocks surge in CY24. Check their financials & institutional data
New-age tech companies have seen significant growth in CY24. Two stocks have surged over 100%. Newly listed companies have also shown strong gains. These tech-driven startups focus on fast-growing sectors and leverage advanced technologies to off...
Most new-age tech companies have seen substantial growth this year CY24. Among them, two stocks have surged by over 100%. Newly listed companies have also shown strong gains, rising between 30-90%. India's new-age internet companies are tech-driven startups that use the internet to build innovative business models. These businesses focus on fast-growing sectors and leverage advanced technologies like artificial intelligence, and machine learning to offer distinctive products and services. They are recognized for their rapid expansion, high market valuations, and ability to disrupt traditional industries.
New Age Stocks Performance in CY24
Stock Price Movement: Zomato, and PB Fintech have more than doubled investors’ wealth in just over nine months of CY24. Newly listed firms like Unicommerce, Brainbees Solutions (FirstCry), and OLA Electric Mobility have also rallied by 30-90% in CY24 so far.
Market Capitalization: Zomato leads the group with the highest market cap at around Rs 2.43 lakh crore, followed by PB Fintech at Rs 78,168 crore and FSN E-Commerce Ventures at Rs 54,930 crore.
Financial Highlights
Over the last three fiscal years, these companies have shown strong revenue growth. Some have turned profitable, while others remain loss-making.
Recent data shows mutual funds have increased their stakes in most of these companies this quarter, while foreign institutional investors have reduced their holdings.
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